Industry
IBC investigators say auto theft, once considered a teenage prank, has mutated into an organized and dangerous business
By David Gambrill | August 31, 2006
6 min read
New technology may herald the rise of a new, multi-channel distribution model
By Brad Smith, President, ReMark Americas | August 31, 2006
5 min read
The new CSIO XML standard for commercial lines represents a move towards true data exchange between brokers and carriers
By Lorin McCaffrey, Senior Product Developer, Policy Works. | August 31, 2006
Fairfax Financial Holdings Ltd. (TSX and NYSE:FFH) announced 2006 Q2 earnings of US$223.6 million, and has decided on the commutation of its Swiss Re cover worth US$1 billion. In a press release, the company also said it will issue a restatement of its earnings, based on an analysis of its 2001 figures. The combined ratio […]
August 31, 2006
2 min read
Co-operators General Insurance Company has reported a 2006 Q2 consolidated after-tax net income of CD$49.6 million, compared to the CD$32.4 million profit for the same period in 2005. Gross written premium in the second quarter increased 4.3%, to CD$602.8 million, compared to CD$577.9 million in the second quarter of 2005, the company reported in a […]
1 min read
Claims
Solid investment income helped Manitoba Public Insurance (MPI) offset a significant rise in claims costs for the first quarter of 2006, MPI reported. For the three months ended May 31, 2006, MPI’s claims costs were up CD$17.1 million, or 11.5%, over the same period a year earlier. The corporation’s investment income grew almost as quickly, […]
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AXA reported its property and casualty revenues increased by 4% during the first half of 2006 to EUR10.8 million (CD$15.6 million). AXA also reported its overall combined ratio improved 0.6 points to 96.9%. “AXA’s performance in the first half of 2006 marks another successful milestone on our path to Ambition 2012,” AXA management board chair […]
Alberta’s mandatory auto insurance premiums are about to drop by 3% as of Nov. 1, 2006. The reduction will be effective when Alberta drivers renew their mandatory coverage. Alberta auto insurance premiums have reduced by 18% since legislative reforms were introduced in 2004. When the automobile insurance reforms went into effect on Oct. 1, 2004, […]
Lloyd’s of London in Canada paid out more for claims in 2005 than it collected in premium, Lloyd’s chairman, Lord Levene, indicated in a July speech to the Vancouver Board of Trade. “What we’ve seen in Canada has caused a few frown lines,” Levene said in the text of his speech. “In 2005, Lloyd’s underwriters […]
Opposition Liberals in New Brunswick have called for a public insurance system, criticizing rate increases for owners of recreational vehicles. Canadian Press, Insurance Critic Denis Landry said some people with motorcycles, snowmobiles and all-terrain vehicles have seen their rates increase by as much as 233% this year. Landry is reported as saying the situation would […]
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